Why are Institutional Investors Interested in Buying Ciena Corporation (CIEN)?

Ciena Corporation (NYSE: CIEN) is 31.55% higher on its value in year-to-date trading and has touched a low of $30.58 and a high of $57.53 in the current 52-week trading range. The CIEN stock was last observed hovering at around $56.16 in the recent trading session, with the current loss setting it -1.63% off its average median price target of $62.00 for the next 12 months. It is also 25.3% off the consensus price target high of $73.00 offered by 19 analysts, but current levels are -9.06% lower than the price target low of $50.00 for the same period.


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At last check, trading at $54.53, the stock is 0.94% and 4.27% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.8 million and changing -2.91% at the moment leaves the stock 26.19% off its SMA200. CIEN registered 30.24% gain for a year compared to 6-month gain of 32.83%. The firm has a 50-day simple moving average (SMA 50) of $54.27 and a 200-day simple moving average (SMA200) of $45.71.

The stock witnessed a 1.94% loss in the last 1 month and extending the period to 3 months gives it a 21.66%, and is 4.80% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.01% over the week and 2.69% over the month.

Ciena Corporation (CIEN) has around 6383 employees, a market worth around $8.68B and $3.66B in sales. Current P/E ratio is 27.33 and Fwd P/E is 17.62. Profit margin for the company is 8.80%. Distance from 52-week low is 78.30% and -5.22% from its 52-week high. The company has generated returns on investments over the last 12 months (9.80%).

Ciena Corporation (CIEN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Ciena Corporation (CIEN) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 1 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Ciena Corporation is expected to release its quarterly report on 09/16/2020 and quarterly earnings per share for the current quarter are estimated at $0.82 with sales reaching $970.95M over the same period.The EPS is expected to grow by 80.40% this year, but quarterly earnings will post 3.40% year-over-year. Quarterly sales are estimated to grow 1.10% in year-over-year returns.

Ciena Corporation (CIEN) Top Institutional Holders

581 institutions hold shares in Ciena Corporation (CIEN), with 1.22M shares held by insiders accounting for 0.79% while institutional investors hold 99.54% of the company’s shares. The shares outstanding are 153.86M, and float is at 152.39M with Short Float at 2.26%. Institutions hold 98.75% of the Float.

Ciena Corporation (CIEN) Insider Activity

A total of 142 insider transactions have happened at Ciena Corporation (CIEN) in the last six months, with sales accounting for 132 and purchases happening 10 times. The most recent transaction is an insider sale by GALLAGHER PATRICK, the company’s Director. SEC filings show that GALLAGHER PATRICK sold 18,703 shares of the company’s common stock on Jul 08 at a price of $56.22 per share for a total of $1.05 million. Following the sale, the insider now owns 41457.0 shares.

Ciena Corporation disclosed in a document filed with the SEC on Jul 08 that Claflin Bruce L. (Director) sold a total of 18,600 shares of the company’s common stock. The trade occurred on Jul 08 and was made at $56.22 per share for $1.05 million. Following the transaction, the insider now directly holds 70788.0 shares of the CIEN stock.

Still, SEC filings show that on Jul 07, McFeely Scott (SVP, Networking Platforms) disposed off 5,000 shares at an average price of $55.83 for $0.28 million. The insider now directly holds 88,241 shares of Ciena Corporation (CIEN).

Ciena Corporation (CIEN): Who are the competitors?

The company’s main competitors (and peers) include Infinera Corporation (INFN) that is trading 115.81% up over the past 12 months. Juniper Networks Inc. (JNPR) is -13.50% down on the 1-year trading charts. Short interest in the company’s stock has fallen -43.19% from the last report on May 14, 2020 to stand at a total of 4.94 million short shares sold with a short interest ratio of 1.47.

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